U.S. stock indices declined Tuesday as investors digested recent gains and awaited inflation data that could shape the Federal Reserve's monetary policy stance.
The Dow Jones Industrial Average fell 154.1 points or 0.4% to 44,247.8, the S&P 500 declined 17.9 points or 0.3% to 6,034.9 and the Nasdaq Composite slipped 51 points or 0.3% to 19,685.4.
Oracle shares dropped 7% after the database giant's fiscal second-quarter results fell short of Wall Street's expectations, despite a robust 67% year-to-date gain.
Conversely, Alphabet emerged as a standout performer, climbing 5.3% after unveiling a quantum computing breakthrough, pushing the tech giant's year-to-date gains beyond 31%.
Shares of Nvidia continued to decline, falling 2.7% on Tuesday following a 2% drop on Monday. This slump was linked to a Chinese antitrust investigation into the chipmaker.
Investors are now focused on Wednesday’s release of the U.S. consumer price index (CPI) report, which will provide a gauge of inflation ahead of the Federal Reserve's Dec. 17-18 meeting.
Economists expect a 0.3% rise in November CPI and a 2.7% increase year-over-year.
On the bond markets, 10-year and 2-year rates were at 4.226% and 4.147%, respectively.
